The FTSE 100 eased back slightly on Thursday after brushing new record highs just shy of 10,500 on Wednesday.
The index opened 0.4% lower, while the FTSE 250 fell 0.6%, as investors digested a mix of company updates.
Vodafone Group (LON:VOD) shares dropped 4.7% despite launching a €500 million share buyback programme, which will run until May 11.
The telecom group posted third-quarter revenue of €10.5 billion, up 6.5%, with service revenue rising 7.3% to €8.5 billion. Adjusted earnings before interest, tax, depreciation, amortisation and after leases grew 2.3% organically to €2.8 billion. Vodafone is on track to hit the upper end of its 2026 guidance for adjusted EBITDA and free cash flow.
Chief Executive Margherita Della Valle said performance remained strong across Europe and Africa, with solid contributions from Germany, Turkiye and Africa. She also highlighted progress integrating the UK business.
Compass Group (LON:CPG) shares fell 2.9% despite reporting 7.3% organic revenue growth in the first quarter. North America and the International division both delivered strong growth.
The contract caterer reaffirmed its 2026 guidance for 7% organic revenue growth and 2% profit growth from mergers and acquisitions. Foreign exchange movements are expected to boost revenue by USD630 million and operating profit by USD33 million. Annualised new business wins rose 10% to USD4 billion. CEO Dominic Blakemore said momentum was broad-based, especially in North America.
On the FTSE 250, Playtech (LON:PTEC) jumped 6.4% after raising its 2025 adjusted EBITDA forecast to at least €195 million, well above analyst expectations. Strong trading in the US and Mexico in the fourth quarter drove the upgrade.
CEO Mor Weizer said investments in the Americas are starting to pay off, with profitability accelerating. The company noted sector headwinds, including planned gambling tax increases in the UK.
AIM-listed Seeen surged 13% after announcing a partnership with Bromley FC. The deal, running through 2027, will see Seeen’s smart video solutions used for the club’s highlights and interviews. CEO Adrian Hargrave described the tie-up as a key showcase for its AI interactive video platform.
In the US, Wall Street ended mixed on Wednesday. The Dow rose 0.5% while the S&P 500 slipped 0.5%. The Nasdaq fell 1.5%, bearing the brunt as investors continue to rotate out of tech and software names amid reports that AI could disrupt the sector.
Markets are now focused on the Bank of England and European Central Bank interest rate decisions later today.
The BoE is expected to hold rates at 3.75%, following a 25 basis point cut in December, signalling a gradual easing path. The ECB is also likely to leave rates unchanged, keeping a neutral stance amid economic uncertainty.